A residential development planned to consist of 400+ units of single family homes and condominiums located in Hemet, California. The property contained 83 partially constructed homes and condominiums, a 14,000 square foot clubhouse with resort style pool, auxiliary cabana and pool, more than seven acres of landscaping and specimen trees, guard house and gates. Several infrastructure challenges were evident on the site.
Douglas Wilson Companies (DWC), agent for Receiver, was tasked to take possession of, operate, manage and protect the project.
DWC secured and stabilized this approximately 47 acre asset by implementing security service, resuming landscape irrigation and maintenance, draining and cleaning the pools, reinstating critical utilities, installing a temporary fence around the perimeter of the property and facilitating Homeowner Association operations. In addition, DWC ensured that temporary sewer pumping continued uninterrupted for the existing residents in the project. DWC analyzed infrastructure elements to determine necessary repairs, remaining construction and related costs.
The Receiver was discharged.
Superior Court of the State of California, Riverside County
Douglas Wilson Companies was founded in 1989 to provide a wide range of specialized business, workout, and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITs, financial institutions, and property owners throughout the United States.
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